Belarus, Kazakhstan announce $700m PTA, PET investment
29 March 2013 18:11 [Source: ICIS news]
?xml:namespace>LONDON (ICIS)--Belarus and Kazakhstan will jointly invest approximately $700m (€546m) in constructing a petrochemical complex to produce purified terephthalic acid (PTA) and possibly also polyethylene terephthalate (PET) from the PTA, the Belarusian Council of Ministers said on Friday.
The PTA would be produced from Kazakh supplies of paraxylene, the council added.
A project team was looking at constructing the complex on the grounds of OAO Mogilevkhimvolokno in Mogilev, eastern Belarus, the council said. The company, which produces dimethyl terephthalate (DMT), PET chips and polyester fibres, is a subsidiary of Belarusian state-owned petrochemical holding company Belneftekhim.
The team included Kazakh petrochemical specialists who were scheduled to arrive in Belarus in April to help finalise the project implementation plan, according to the Council.
No planned capacities for the envisaged PTA and PET installations were yet available from officials.
Last October, Belarus announced it had pledged to assist Kazakhstan's neighbour, Azerbaijan, with its large-scale petrochemical ambitions by sharing expertise.
($1 = €0.78)By: Will Conroy+44 20 8652 3214
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